Authentic Brands to acquire owner of Quiksilver, Billabong and Roxy
Authentic Brands Group has made a binding offer to purchase sports and lifestyle company Boardriders.
The group said the move will diversify and expand its portfolio with the addition of the Quiksilver, Billabong, Roxy, DC Shoes, RVCA, Element, VonZipper and Honolua brands.
Jamie Salter, founder, chairman and chief executive of Authentic, said: “As an early believer in the global and commercial appeal of action sports, this brings me back to the roots of my early career.
“Along with the great brands and impressive global reach that will come with this acquisition, we see Boardriders’ potential as a thriving online marketplace under Authentic’s ownership. With Boardriders’ proven retail playbook, we also see tremendous opportunities to accelerate the expansion of its shop-in-shops, branded retail stores, wholesale and e-commerce worldwide.”
Boardriders is has operations in the Americas, Europe, Australia and Asia. Its portfolio generates $2.9 billion in retail sales each year through a multichannel distribution network of over 500 owned retail stores, 7,000 wholesale accounts and websites in 35 countries.
The acquisition will also include Surf Dive ‘n Ski, a leading lifestyle retailer in Australia.
Arne Arens, chief executive of Boardriders, said: “We are proud of our deep connection to the global action sports community, industry-leading brands and world-class teams,” said “Under Authentic’s ownership, Boardriders will be uniquely positioned to expand the reach of our iconic brands to millions of consumers, capture market share in our core categories and grow white spaces, including premium athleisure, training and lifestyle.”
The deal is expected to complete in the third quarter of 2023 if the required approvals are secured.